Good news for those who weren't able to get hold on the Moto X price drop deal last week – Motorola has announced that it is extending its low-price sale on its off-contract Moto X handset, offering potential users the device for just $299.

Earlier this April, tech website Slash Gear revealed that the Moto X would be dropping its price tag from the already affordable $349 to just $299 for the 16GB variety. The price slash is a sign that Motorola is clearing off its existing stocks of the said smartphone to make way for their next generation device.

And indeed, in a purported statement, Motorola is now on its way to introduce its new flagship, dubbed the Moto X+1.

The report cited sources such as GSM Arena, talking about leaked benchmark specs to confirm the speculations about the upcoming device.

Further rumors also circulated that Geekbench was allegedly shown the possible Moto X series installment (sporting a model number XT1096) revealing details that it would run on a Qualcomm Snapdragon 801 processor and that it would arrive on shelves by the end of summer.

Many analysts believe that the likely release date of the Moto X+1 is September 22.

Other specs reported indicate a quad-core CPU closed at 2.46GHz, packed with 2GB of RAM and Android 4.4.4 Kitkat. It would also don a 5 – 5.2 inches of display with 1920 x 1080 pixel resolution, a 12 MP rear camera with dual-LED flash and a stunning 5 megapixels front snapper.

Meanwhile, Techradar speculated that most probably X+1 will debut in the market together with the Moto 360 smartwatch.